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| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 14 Aug'14 |
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| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 14 Aug'14 |
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| Nifty 50 - End of Day (EOD) Chart - Channel analyzing Data from Feb'2014, onward - as on 14 Aug'14 |
Patterns:
- Bulls slip Index above the August Wall. July Candle's High Wave effect, gives the Bulls some joy #M1.
- Last two candles on the Weekly chart form a 'Above the Stomach' Pattern #W1.
- Bulls defending the Day Channel Bottom #D1. close above the 5 EMA on the EOW #W1.
- Bears fail to defend the August Pivot 7667 and give up the Wall 7721 #M1
Moving Averages:
- The critical 5 EMA and 13 SMA on the EOD cross bullishly mid-week to give Bulls dominance of all screens #D1.
Indicators:
- MACD and its MA touch for a Bullish Cross - reflecting the recent Bull moves #D2.
- STS below its resistance line - but remains in the over bought #W1.
Wrap:
Bears lose control of the short term screen after index slips above the August Wall 7721 (Study), Bears defend recent Highs #W1.
Looking Forward into this Week:
Patterns:
- July candle's High Wave effect (Study links here, here or elsewhere) is on #W1.
- The 'Above the Stomach' Pattern (Study links here, here or elsewhere) near the Highs, warrant a careful look #W1.
Support & Resistance:
- Bears seek to get below the confluence of the 5 EMA on the EOW (7669) & Month Pivot (7667) #M1 - the current Index support #W1.
- Index faces resistance at the last ATH (7841).
Moving Averages:
Indicators:
- STS slipping below the overbought, augers well for the Bears #W1.
Wrap:
Bulls look to defend the Month Pivot #M1 and get above the ATH (7841) #M1.Bears look to get below the August Wall 7721 and break the EOD channel bottom #D1.
